Home Improvement Loan - DIY

[Anthony Bekken]

All,

I am looking to buy an investment through a Home Improvement loan BUT I want to do the upgrades myself.

Lender is required an executed contract with a licensed and insured GC to identify the scope of work (Improvements). BL - trying to circumvent and significant workload on the GC and trying to make sure that there are not any gotchas like taxes etc if I purchase the material.

Here's my question- in this arrangement, I think who procures the material is critical for tax purposes...if I purchase, and GC reimburses, then could that be viewed as income? OR is there some other way around this?

Trying to avoid having the GC act as a purchase agent in addition to top end coverage.

Thought?